NEW DELHI: Patanjali Ayurved clocked Rs 10,561 crore revenues for FY17 (full year), its promoter Baba Ramdev said on Thursday.
“We would grow more than double this year... By next year, Patanjali would be in the leading position and in most of the product categories, it would be number one,” Ramdev said.
The Haridwar-based company, however, might find it hard to achieve this ambitious target. For one, most of the established players experience have been growing in single digits. Two, Patanjali has already taken away bulk of the customer base of competitors. So, growing consumer base at 100 per cent levels won’t be easy for the firm.
The company is in the process of setting up mega production units at several places, including Noida, Nagpur, and Indore, which would take its production capacity to Rs 60,000 crore from the existing Rs 35,000 crore.
“Our Noida facility would have a production capacity of Rs 20,000 crore, Nagpur 15,000 crore to Rs 20,000 crore and Indore Rs 5,000 crore,” he added.
Patanjali is also doubling its distribution network from 6,000 to 12,000 to reach more consumers across the country. This fiscal, the company is looking to enhance its focus on categories such as spices, pulses, vegetable oil, biscuits, confectionery and juices and add more products into these segments.
In FY17, Patanjali Ayurved contributed Rs 9,634 crore to its turnover, while Divya Pharmacy that manufactures ayurvedic medicines had clocked Rs 870 crore sales.
During the fiscal, Patanjali ghee had a business of Rs 1,467 crore and oral care brand Dant Kanti Rs 940 crore. Its personal care brand Keshkanti had sales of Rs 825 crore and herbal soap Rs 574 crore.
“Dant Kanti has a 14 per cent market share in the segment. Honey is around Rs 350 crore and would grow to Rs 500-600 crore this year,” Ramdeve said.